How to Get Down Payment Assistance to Buy a House (For First-Time and Repeat Buyers)

Dreaming of owning a home but worried about the down payment? You’re not alone! Whether you’re a first-time buyer or returning to the market, down payment assistance (DPA) programs can make homeownership much more accessible. Let’s break down how these programs work and how you can take advantage of them.

What is Down Payment Assistance?

Down payment assistance is financial help—often in the form of grants, forgivable loans, or low-interest loans—designed to help buyers cover the upfront costs of purchasing a home. These programs are offered by federal, state, and local agencies, as well as some nonprofits and employers.

Who Qualifies?

Eligibility varies, but many programs are open to both first-time and repeat buyers. Some focus on income limits, credit scores, or the location of the property. Others may require you to complete a homebuyer education course.

Types of Down Payment Assistance

• Grants: Money you don’t have to pay back, often given to buyers who meet certain criteria.
• Forgivable Loans: Loans that are forgiven after you live in the home for a set period (often 5-10 years).
• Deferred Payment Loans: Repayment is postponed until you sell, refinance, or pay off your mortgage.
• Matched Savings Programs: Your savings for a down payment are matched by a government or nonprofit program.

How to Find the Right Program

• Check with your state or local housing agency—they often have the most up-to-date information.
• Ask your lender or real estate agent about available programs in your area.
• Explore national resources like the HUD Local Homebuying Programs and Down Payment Resource.

Spotlight: Central Florida Resources

Central Florida buyers have access to several helpful programs, such as:

• Florida Housing Finance Corporation: Offers DPA for both first-time and repeat buyers, with options like the Florida Assist Second Mortgage Program and HFA Preferred/Advantage PLUS.
• Local City/County Programs: Many cities and counties in Central Florida offer their own DPA grants or loans—check with your local housing office for details.

Tips for Success

• Start early—some programs have limited funds and strict deadlines.
• Gather your documents, including proof of income and credit history.
• Take a homebuyer education class to boost your eligibility and confidence.

Let’s Connect You with the Right Lender!

I work with an amazing lender whom I’ve partnered with for over 8 years. She has access to all the down payment assistance programs offered in Florida and is truly dedicated to helping buyers find the best fit for their needs. I’m always happy to connect my clients to her, so you can explore every opportunity available and make your homeownership dreams a reality!

With a little research, the right support, and a great team on your side, your path to homeownership can be much smoother—whether it’s your first home or your next one!